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Hong Kong Department of Justice: Importance of 'Stablecoin Regulations' in Supporting Orderly Development of Hong Kong Stablecoin Market
Summary: According to reports from the Hong Kong Commercial Daily, Zhang Guojun, Deputy Director of the Hong Kong Department of Justice, stated that the 'Stablecoin Regulations' set to take effect on August 1 will establish a trusted market environment with a licensing system, asset custody management, and technology and behavioral supervision as the three main pillars. ...
According to reports from the Hong Kong Commercial Daily, Zhang Guojun, Deputy Director of the Hong Kong Department of Justice, stated that the 'Stablecoin Regulations' set to take effect on August 1 will establish a trusted market environment with a licensing system, asset custody management, and technology and behavioral supervision as the three main pillars. He emphasized that the significance of the regulations lies in providing a clear and transparent legal framework for the orderly and healthy development of the Hong Kong stablecoin market, maintaining international market confidence in Hong Kong as a leading global financial center. In the future, efforts will continue to deepen cooperation with mainland China and international markets in various fields, using international legal and other professional services to support mainland and overseas companies in expanding their businesses through Hong Kong's international financial platform.
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Link: Hong Kong Department of Justice: Importance of 'Stablecoin Regulations' in Supporting Orderly Development of Hong Kong Stablecoin Market [Copy]
